At the end of the July meeting, the Reserve Bank of Australia lowered its key interest rate to a record low of 1%. A month earlier, the Australian regulator decided to lower the rate for the first time in 3 years. Then it was reduced by 0.25 percentage points to 1.25%. The rate cut should support economic growth in the country amid a weakening global economy. As the head of the Central Bank, Philip Lowe, said, the trade dispute between the United States and China, which has a negative impact on investment, creates risks for global growth. He noted that the Central Bank would monitor the situation in the Australian economy after reducing the rate twice in the last two months, and, if the need arises, the regulator will again resort to softening its policy. All necessary measures will be taken to ensure that the country is able to get closer to full employment and reach the inflation target.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...